One of the factors that can affect the costs of applying for citizenship by investment is who all the primary applicant intends to make part of the application. Many citizenship by investment programs charge large fees for additional family members (such as spouse and children) to be included into the citizenship package. The island nation of Grenada, however, offers a citizenship by investment package that may just be the least expensive high-grade program for families.

Specifically, the Grenada program offers a one-price package for families of up to four people. The two primary options are either one-time contributions or purchasing qualifying real estate. The contribution option for an applicant is $200,000 paid to Grenada’s National Transformation Fund, and will cover the applicant, his spouse and two children. Grenada also offers a $350,000 investment option for real estate that would cover the applicant and four family members.

A one-time contribution, or a purchase of qualifying real estate can be an integral part of a higher-net-worth individual’s estate, succession and asset protection plan. It provides an applicant with a high visa free travel, and an easier entree into places as far flung as the Schengen area and China.

Grenada’s program is a relative newcomer, having been launced in 2013, but it offers unique benefits, such as:

–A quick route to citizenship, with a processing time of 60 business days.
–A streamlined application process with no requirement to take part in an interview, show minimum education or language skills, or demonstrate previous business experience.

Citizens of Grenada can take advantage of not only the right to live and work in Grenada, and dual citizenship, but visa-free travel to more than 110 countries and territories, including the UK, Schengen Area, and China.

If you are interested in learning more about Grenada’s program, contact us at wldeaton@deatonlegal.net.